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I was also intrigued by the webinar for Right Line Trading by Mark Sachs. I have been burned before by "those you can't do, teach" types. I inquired at his company about evidence of Mark's personal track record using his system, but they could not deliver any results.
I have paid "tuition money" and incurred trading losses previously to discover a few systems did not work.
If a system looks interesting, I suggest that you ask the vendor for a free trial (not a money back guarantee since they can find excuses) and paper trade it first, and then decide for yourself.
@mscholder
Wow, thanks for posting that link, the EliteTrader forum thread is amazing.
Mark Sachs really picked on the wrong guy. Just three pages and a complete paper trail of how to destroy your own reputation.
Well done 123r34, with full justification he didn't back down.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Sadly, still in business. I even complained to the group he was presenting to the other day - twice - and they still put him on. But it was Rob Hoffman, so...
Sachs claims that he got a PhD in finance. He was a prescription drug doctor who got arrested for it. Close, though: https://www.cbsnews.com/miami/
Claimed to have a PhD from Wharton; actually got his Bachelor's from Penn, prior to going to Med School.
Just sharing more info in case people are wise enough to google prior to signing up and this helps to boost the hits on him.
I am a Rightline customer and I can tell you my impressions:
In my view, the truth is that despite Mark Sachs' very sordid past, and what appears to be his comfort for bending the truth, the indicators do work and they are innovative. I've spent a lot of time with the indicators and listening to Mark. While I don't trust him - he'll say anything to make his case - I do trust his work. I do trust that in the right hands it is worthwhile.
It is by no means automated. To be successful you DO need experience and a feel for the markets. It is up to you to determine how and when to use the analysis. He claims his "quant lines" are extremely complicated and based on hours and hours of research for each market. I believe that is a gross overstatement. BUT, the quant lines DO work if you know how to use them.
If you are considering subscribing, go in with eyes open. I know this business is full of crackpots and charlatans. Ignore the messenger if you can - it is worth a close look.
I'm not sure you are correct. I've been trading for many years. If you look closely at Rightline's offering (have you?) you'll see that it provides a relevant view of what is happening in the markets. By relevant I mean what I want to know about market action.
I am not at all a fan of Mark Sachs. I do believe, however, that his presentation of the markets is meaningful to me. Maybe not to others and I certainly would agree it is not for new traders looking for the holy grail.
I also use his system. I have had success with it. You don’t take every trade if you see a buy or sell signal. You have to look at the big picture like what was said. But every system I have you need to know what’s going on.